EscrowIt.com will inform the seller that the buyer's payment has been secured in a trust account. Once this is done the seller is required to start the domain name transfer process. Before Escrow-It releases payment to the seller, we will verify registration of the domain reflects the buyer. If the domain reflects anyone other than the buyer, Escrow-It will request that the buyer confirm domain name control. If control of the domain is not obtained by the buyer, the funds will not be released to the seller.
In order to eliminate fraud from the transaction, terms and conditions will be created which will include an inspection period. During this time it is the responsibility of the buyer to ensure they have received any needed username and password information to access the domain. If there are any issues the buyer will have the right to reject the domain through Escrow-It. If the inspection period ends and the buyer does not reject the domain or deny sale based on the terms of the sale, they will be legal owners of the domain. They will need to contact the registrar to secure control and gather proper credentials for the domain if they were not present at the time of the sale. The buyer would have the right to obtain this from the registrar because at this point of the process they would be the legal owners of the domain.
The buyer is encouraged to use the inspection period as a time to ensure the site is accessible and there are no problems. If any issues occur it is during this time you can reject the domain. If it is not rejected and the inspection period ends, you will not be able to reject it. The length of the inspection period will be determined through the terms and conditions of the sale.
We encourage the buyer to confirm that the seller actually owns the domain as well as performs lien and trademark searches, most domain registrars will research these areas at little to no cost.
Please contact the registrar for instructions and information on how to transfer domain name ownership. They will be able to clarify how much involvement will be needed from both the buyer and seller. Escrow-It will not contact the registrar on either party's behalf to ensure transfer or ownership.
The length of time that it takes to transfer a domain depends upon the registrar which is transferring the domain name from the seller to the buyer. The range of time can be anywhere from a few moments to up to six weeks. We advise contacting the registrar who is transferring the domain to ask what average transfer times are within their business.
Escrow-It handles international domain name transactions.